PNC Financial Services Group Inc. Purchases 2,971 Shares of Royal Gold, Inc. $RGLD

PNC Financial Services Group Inc. lifted its holdings in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 57.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,134 shares of the basic materials company’s stock after purchasing an additional 2,971 shares during the period. PNC Financial Services Group Inc.’s holdings in Royal Gold were worth $1,447,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in RGLD. WPG Advisers LLC acquired a new stake in Royal Gold in the 1st quarter valued at approximately $27,000. Cullen Frost Bankers Inc. boosted its position in shares of Royal Gold by 548.1% in the second quarter. Cullen Frost Bankers Inc. now owns 175 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 148 shares during the period. Blue Trust Inc. grew its stake in shares of Royal Gold by 56.8% in the second quarter. Blue Trust Inc. now owns 196 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 71 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Royal Gold during the first quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Royal Gold during the 1st quarter valued at $40,000. Institutional investors own 83.65% of the company’s stock.

Royal Gold Stock Up 1.6%

Shares of RGLD opened at $188.43 on Thursday. The company has a 50-day moving average price of $189.33 and a two-hundred day moving average price of $178.39. The stock has a market cap of $15.90 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 0.96 and a beta of 0.39. Royal Gold, Inc. has a 12 month low of $130.67 and a 12 month high of $209.42.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.24). The company had revenue of $250.23 million during the quarter, compared to the consensus estimate of $275.11 million. Royal Gold had a net margin of 56.24% and a return on equity of 13.30%. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.47 earnings per share. Equities research analysts expect that Royal Gold, Inc. will post 6.2 EPS for the current fiscal year.

Royal Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.475 per share. This is an increase from Royal Gold’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, January 2nd. Royal Gold’s dividend payout ratio is currently 24.73%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BMO Capital Markets set a $240.00 price target on shares of Royal Gold and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. TD Securities reissued a “buy” rating and set a $237.00 target price (up from $229.00) on shares of Royal Gold in a research report on Friday, August 8th. Wall Street Zen cut Royal Gold from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Zacks Research raised Royal Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Royal Gold in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.40.

Royal Gold Company Profile

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.